European Central Bank

Greek banks reopened Monday for the first time in three weeks, but strict limits on cash withdrawals and higher taxes on everything from coffee to diapers meant the economic outlook for the recession-battered country was far from back to normal. There were hopeful developments: The cash-strapped nation got a short-term loan from European creditors to pay more than 6 billion euros ($6.5 billion) owed to the International Monetary Fund and the European Central Bank. Non-payment of either would have derailed Greece's latest bailout request. But for most Greeks, already buffeted by six years of recession, Monday was all about rising prices as tax hikes demanded by creditors took effect....

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